Morselife Foundation Inc
- Assets
- $49.1m
- Revenue
- $14.3m
- Investments
- $28.3m
- Employees
- 0
- Location
- West Palm Beach, FL
- Founding
- 04/1988
- Data as of
- 05/2022
- EIN
- 59-2774476
Organization Overview
Morselife Foundation Inc is located in West Palm Beach, FL. The organization was established in 1988. According to its NTEE Classification (P11) the organization is classified as: Single Organization Support, under the broad grouping of Human Services and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Morselife Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 05/2022, Morselife Foundation Inc generated $14.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 2.5% each year. All expenses for the organization totaled $10.1m during the year ending 05/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Morselife Foundation Inc has awarded 44 individual grants totaling $52,873,293. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO SUPPORT ALL AFFILIATED AGENCIES FOR THE PURPOSE OF ENHANCING SENIOR LIVING.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION SOLICITS AND COLLECTS FUNDS FOR THE BENEFIT OF ITS AFFILIATED TAX-EXEMPT ENTITIES. THE FUNDS ARE GIVEN TO THE AFFILIATES IN SUPPORT OF THEIR TAX-EXEMPT PURPOSE OF PROVIDING SENIOR LIVING ACCOMODATIONS AND HEALTH SERVICES.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Irving Geffen Senior Vice President | Officer | 40 | $391,074 |
Carolyn Rose VP Of Morselife Foundation | Officer | 40 | $237,601 |
Tami Lesser VP Of Morselife Foundation | Officer | 40 | $216,371 |
Joan Bever VP Of Events | Officer | 40 | $196,467 |
Ethan Kernkraut Director Of Morselife Foun | 40 | $132,200 | |
Arthur S Loring President | OfficerTrustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Morselife Health Systems Inc Management Services | 5/30/21 | $857,646 |
Kell Partners Llc It Services | 5/30/21 | $116,420 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $7,938,236 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,938,236 |
| Total Program Service Revenue | $0 |
| Investment income | $785,089 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,510,016 |
| Net Income from Fundraising Events | $61,742 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $14,295,083 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,461,978 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $1,274,897 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $189,571 |
| Pension plan accruals and contributions | $27,181 |
| Other employee benefits | $51,116 |
| Payroll taxes | $103,845 |
| Fees for services: Management | $1,215,082 |
| Fees for services: Legal | $365,653 |
| Fees for services: Accounting | $28,740 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $119,221 |
| Fees for services: Other | $44,713 |
| Advertising and promotion | $254,312 |
| Office expenses | $111,644 |
| Information technology | $38,704 |
| Royalties | $0 |
| Occupancy | $79,046 |
| Travel | $13,511 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $1,336,867 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $140,479 |
| Insurance | $57,820 |
| All other expenses | $0 |
| Total functional expenses | $10,125,216 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $742,414 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $12,194,940 |
| Accounts receivable, net | $9,287 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,721,294 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $84,763 |
| Net Land, buildings, and equipment | $1,799,797 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $28,312,251 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,192,206 |
| Total assets | $49,056,952 |
| Accounts payable and accrued expenses | $318,809 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $30,827,394 |
| Total liabilities | $31,146,203 |
| Net assets without donor restrictions | $11,360,671 |
| Net assets with donor restrictions | $6,550,078 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $49,056,952 |
Grants Awarded
Over the last fiscal year, Morselife Foundation Inc has awarded $4,427,722 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
West Palm Beach, FL PURPOSE: MISSION SUPPORT AND EVENTS | $2,338,893 |
West Palm Beach, FL PURPOSE: MISSION SUPPORT AND EVENTS | $1,456,582 |
West Palm Beach, FL PURPOSE: MISSION SUPPORT AND EVENTS | $188,893 |
West Palm Beach, FL PURPOSE: MISSION SUPPORT AND EVENTS | $177,983 |
West Palm Beach, FL PURPOSE: MISSION SUPPORT AND EVENTS | $125,631 |
West Palm Beach, FL PURPOSE: MISSION SUPPORT AND EVENTS | $75,214 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Morselife Foundation Inc has recieved totaling $87,500.
| Awarding Organization | Amount |
|---|---|
Lewis Fam Tr Palm Beach, FL PURPOSE: PRESELECTED ORGANIZATIONS | $80,000 |
Daelansa Foundation Palm Beach, FL PURPOSE: USE FOR THEIR STATED PURPOSE. | $5,000 |
David And Sheila Cornstein Foundation Palm Beach, FL PURPOSE: CHARITABLE | $2,500 |
Endowment Analysis
| Beg. Balance | $938,413 |
| Earnings | -$36,276 |
| Net Contributions | $113,806 |
| Other Expense | $119,708 |
| Ending Balance | $896,235 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Trustbridge Inc West Palm Beach, FL | $246,958,049 | $48,624,490 |
Empath Health Inc Clearwater, FL | $161,550,445 | $45,488,843 |
Arnies Army Charitable Events Foundation Inc Orlando, FL | $24,420,608 | $35,690,094 |
Morselife Foundation Inc West Palm Beach, FL | $49,056,952 | $14,295,083 |
Trustbridge Foundation Inc West Palm Beach, FL | $165,141,180 | $27,715,967 |
Family Allies Inc Rockledge, FL | $2,052,888 | $5,472,573 |
The Hospice Foundation Of Martin & St Lucie Inc Stuart, FL | $38,872,394 | $6,423,921 |
Sos Childrens Villages Florida Inc Coconut Creek, FL | $5,627,775 | $5,841,080 |
Sheriffs Ranches Enterprises Inc Boys Ranch, FL | $1,230,660 | $4,068,193 |
Ymca Of Greater St Petersburg Facility Operations Inc St Petersburg, FL | $0 | $3,487,521 |
National Foundation For Youth Inc Cocoa, FL | $82,942,437 | $32,677,323 |
John Knox Village Of Florida Foundation Inc Pompano Beach, FL | $16,895,257 | $2,827,394 |